Byron Duerksen's blog

Investors Beware

There are a significant number of investors taking advantage of the lower prices of homes in Lake and Mendocino Counties.  Several of my clients recently are some of those investors and in each case they were told or assumed that no inspection was necessary.  How could that possibly be?  In every case, the house was older, and the house was vacant.  Both of those conditions scream -- INSPECTION REQUIRED.  I can almost guarantee that there are issues.  Hopefully, minor issues but issues that the investor/buyer needs to be aware of.

I know investors may think a house is a good buy and they have purchased lots of properties, so they might as well skip the inspection and do some minor repairs and rent the property out.  Well, just yesterday, for instance, my investor/client met me at his property--a property he was not going to have inspected.  Good thing!  If he had done what he usually does, he would have paid too much for the property and he would have assumed liability for someone's health and safety that could potentially cause a law suit.  The deck was dangerous, falling apart with hidden "fixes" underneath, nails instead of bolts, rotten wood.

It is not a good deal until you know exactly what you are getting.

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